The Bangladesh Small and Cottage Industries Corporation (BSCIC) will provide loans to the trained unemployed youths (both male and female) under the "Bangabandhu Youth Loan" programme adopted by the Karmasangsthan Bank on the occasion of the Mujib Year.
A memorandum of understanding (MoU) has been signed between BSCIC and Karmasangsthan Bank on Wednesday, according to a press release.
BSCIC Chairman Md Mushtaq Hasan and Managing Director of Karmasangsthan Bank Md Tajul Islam signed the MoU on behalf of their respective organisations at the bank.
Kaniz Fatema, former secretary and chairman of the Board of Director of the bank, was the chief guest, while Zakia Sultana, additional secretary of Financial Institutions Division was the special guest at the event, it read.
According to the MoU, a minimum of Tk20,000 to a maximum of Tk5 lakh collateral-free startup loans will be provided to the youths (between 18-35 years old) trained in BSCIC at 9% simple interest.
It is mentionable that under the Bangabandhu Youth Loan programme, some 2 lakh trained unemployed youths will be given collateral-free loans on easy terms and at low interest.